Measured Wealth Private Client Group LLC Buys Shares of 22,246 TEGNA Inc. (NYSE:TGNA)

Key Points

• Measured Wealth Private Client Group LLC invested $405,000 in TEGNA Inc. by purchasing 22,246 shares in the first quarter.
• TEGNA reported an earnings per share (EPS) of $0.44 for the recent quarter, exceeding expectations, while revenue declined by 5.0% year-over-year.
• The company has declared a quarterly dividend of $0.125, yielding 3.3% annually, with a payout ratio of 17.61%.

Measured Wealth Private Client Group LLC acquired a new stake in TEGNA Inc. (NYSE:TGNA - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 22,246 shares of the company's stock, valued at approximately $405,000.

A number of other hedge funds have also added to or reduced their stakes in TGNA. JPMorgan Chase & Co. lifted its holdings in shares of TEGNA by 49.5% during the fourth quarter. JPMorgan Chase & Co. now owns 425,565 shares of the company's stock worth $7,784,000 after purchasing an additional 140,987 shares during the period. Wells Fargo & Company MN lifted its holdings in TEGNA by 9.5% in the fourth quarter. Wells Fargo & Company MN now owns 223,654 shares of the company's stock valued at $4,091,000 after buying an additional 19,453 shares during the period. Bank of Montreal Can increased its stake in TEGNA by 5.4% in the fourth quarter. Bank of Montreal Can now owns 33,424 shares of the company's stock valued at $611,000 after purchasing an additional 1,706 shares in the last quarter. Invesco Ltd. increased its stake in TEGNA by 14.6% in the fourth quarter. Invesco Ltd. now owns 866,076 shares of the company's stock valued at $15,841,000 after purchasing an additional 110,646 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in TEGNA in the fourth quarter valued at $2,375,000. 92.19% of the stock is owned by institutional investors.

TEGNA Stock Up 2.5%

TGNA stock traded up $0.49 during trading on Tuesday, reaching $20.36. The stock had a trading volume of 6,776,815 shares, compared to its average volume of 1,652,769. TEGNA Inc. has a one year low of $13.37 and a one year high of $20.54. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.82. The company's 50 day moving average is $16.77 and its two-hundred day moving average is $17.12. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 7.32 and a beta of 0.28.

TEGNA (NYSE:TGNA - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.06. TEGNA had a net margin of 14.99% and a return on equity of 16.20%. The business had revenue of $675.05 million during the quarter, compared to the consensus estimate of $673.92 million. During the same period in the prior year, the firm posted $0.50 EPS. The firm's quarterly revenue was down 5.0% compared to the same quarter last year. Equities research analysts forecast that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Friday, June 6th. TEGNA's payout ratio is presently 17.99%.

Wall Street Analysts Forecast Growth

TGNA has been the subject of several research analyst reports. Benchmark decreased their price target on shares of TEGNA from $21.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Wells Fargo & Company reissued an "overweight" rating and set a $22.00 target price (up from $21.00) on shares of TEGNA in a research report on Sunday. JPMorgan Chase & Co. decreased their target price on shares of TEGNA from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Wednesday, May 21st. Finally, Guggenheim decreased their target price on shares of TEGNA from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $20.25.

About TEGNA

TEGNA Inc, a media company, provides broadcast advertising and marketing products and services for businesses. The company operates 47 television stations in 39 markets of the United States that produce local programming, such as news, sports, and entertainment. It offers local and national non-political advertising; political advertising; production of programming from third parties; production of advertising materials; and digital marketing services, as well as advertising services on the stations' Websites, tablets, and mobile products.